N.S. Transport Pay Div.’ Again
(N.Z. Press Association) AUCKLAND, June 12.
Full accounts of the North Shore Transport Company, Ltd., show that operating surplus before depreciation rose £17,625, or 36 per cent., to £66,856 in the year to March 31. However, depreciation was £15,633’ up at £44,060. As announced, net profit; fell from £18.720 to £11,908 because of the much higher tax provision now that the company has recouped earlier losses—£9733, compared with £928 last year. The result represents 11.4 per cent, on average funds and 11.9 per cent, on capital.
Dividend of 5 per cent.— the first since 1958—takes £5OOO. After fhe purchase of 30 diesel buses the fleet is now up to date, the chairman (Mr J. B. Donald) reports. Passengers carried increased 24,000 to 5.270,000.
H.B. Motor Purchase.—Hawke's Bay Motor Company, Ltd., has acquired the capital of City Bus Services, Ltd., which comprises 3250 £1 preference shares and 2750 £ 1 ordinaries.
Baillie Motors.—lnterim 5 per cent, dividend Is payable on June 14, ex that date.
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Bibliographic details
Press, Volume CII, Issue 30156, 13 June 1963, Page 17
Word Count
168N.S. Transport Pay Div.’ Again Press, Volume CII, Issue 30156, 13 June 1963, Page 17
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